XLG vs. QQA

Last updated Jun 24, 2026

XLG (Invesco S&P 500 Top 50 ETF) and QQA (Invesco QQQ Income Advantage ETF) are both exchange-traded funds - XLG is a S&P 500 fund tracking the S&P 500 Top 50 Index, while QQA is a Derivative Income fund actively managed by Invesco. XLG is passively managed, while QQA is actively managed. Over the past year, XLG returned 19.95% vs 28.19% for QQA. Their correlation of 0.90 suggests significant overlap in exposure. XLG charges 0.20%/yr vs 0.29%/yr for QQA.

Performance

XLG vs. QQA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Top 50 ETF (XLG) and Invesco QQQ Income Advantage ETF (QQA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLG achieves a 1.60% return, which is significantly lower than QQA's 12.34% return.

XLG

• 1D: -1.88%
• 1M: -5.41%
• YTD: 1.60%
• 6M: 0.73%
• 1Y: 19.95%
• 3Y*: 21.35%
• 5Y*: 14.28%
• 10Y*: 16.94%

QQA

• 1D: -1.80%
• 1M: 0.69%
• YTD: 12.34%
• 6M: 11.54%
• 1Y: 28.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XLG vs. QQA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XLG Invesco S&P 500 Top 50 ETF	1.60%	19.51%	5.87%
QQA Invesco QQQ Income Advantage ETF	12.34%	17.24%	5.92%

Correlation

The correlation between XLG and QQA is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jul 17, 2024	0.90

The correlation between XLG and QQA has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

XLG vs. QQA - Sectors Allocation Comparison

Sectors	XLG	QQA
Technology	46.8%	58.7%
Communication Services	16.0%	14.3%
Consumer Cyclical	11.2%	11.4%
Financial Services	9.0%	0.2%
Healthcare	7.0%	3.7%
Consumer Defensive	5.2%	6.4%
Energy	2.4%	0.5%
Industrials	1.9%	2.6%
Basic Materials	0.6%	1.0%
Real Estate	-	0.1%
Utilities	-	1.2%

Return for Risk

XLG vs. QQA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XLG

XLG Risk / Return Rank: 39
XLG Sharpe Ratio Rank: 42
XLG Sortino Ratio Rank: 40
XLG Omega Ratio Rank: 41
XLG Calmar Ratio Rank: 33
XLG Martin Ratio Rank: 38

QQA

QQA Risk / Return Rank: 67
QQA Sharpe Ratio Rank: 65
QQA Sortino Ratio Rank: 61
QQA Omega Ratio Rank: 64
QQA Calmar Ratio Rank: 67
QQA Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XLG vs. QQA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Top 50 ETF (XLG) and Invesco QQQ Income Advantage ETF (QQA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	XLG	QQA	Difference
Sharpe ratio: Return per unit of total volatility	1.44	2.03	-0.60
Sortino ratio: Return per unit of downside risk	1.98	2.74	-0.76
Omega ratio: Gain probability vs. loss probability	1.26	1.37	-0.11
Calmar ratio: Return relative to maximum drawdown	1.61	3.23	-1.62
Martin ratio: Return relative to average drawdown	5.77	13.90	-8.13

XLG vs. QQA - Sharpe Ratio Comparison

The current XLG Sharpe Ratio is 1.44, which is comparable to the QQA Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of XLG and QQA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XLG vs. QQA - Drawdown Comparison

The maximum XLG drawdown since its inception was -52.39%, which is greater than QQA's maximum drawdown of -19.73%. Use the drawdown chart below to compare losses from any high point for XLG and QQA.

Drawdown Indicators

	XLG	QQA	Difference
Max Drawdown Largest peak-to-trough decline	-52.39%	-19.73%	-32.66%
Max Drawdown (1Y) Largest decline over 1 year	-12.41%	-8.76%	-3.65%
Max Drawdown (3Y) Largest decline over 3 years	-20.70%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.02%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-30.46%	—	—
Current Drawdown Current decline from peak	-6.91%	-2.14%	-4.77%
Average Drawdown Average peak-to-trough decline	-7.63%	-2.53%	-5.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	2.03%	+1.43%

Volatility

XLG vs. QQA - Volatility Comparison

The current volatility for Invesco S&P 500 Top 50 ETF (XLG) is 5.04%, while Invesco QQQ Income Advantage ETF (QQA) has a volatility of 6.67%. This indicates that XLG experiences smaller price fluctuations and is considered to be less risky than QQA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLG	QQA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	6.67%	-1.63%
Volatility (6M) Calculated over the trailing 6-month period	10.74%	11.28%	-0.54%
Volatility (1Y) Calculated over the trailing 1-year period	13.98%	13.95%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.79%	18.59%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.88%	18.59%	+0.29%

XLG vs. QQA - Expense Ratio Comparison

XLG has a 0.20% expense ratio, which is lower than QQA's 0.29% expense ratio.

Dividends

XLG vs. QQA - Dividend Comparison

XLG's dividend yield for the trailing twelve months is around 0.66%, less than QQA's 9.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQA Invesco QQQ Income Advantage ETF	9.70%	9.78%	4.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLG Invesco S&P 500 Top 50 ETF	0.66%	0.64%	0.72%	0.97%	1.34%	0.94%	1.25%	1.58%	2.00%	1.85%	2.00%	2.09%

Frequently Asked Questions

Can I hold both XLG and QQA in my portfolio?

XLG and QQA have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLG or QQA?

QQA has higher volatility (6.67%) compared to XLG (5.04%). In terms of maximum drawdown, XLG dropped -52.39% vs QQA's -19.73%.

Which ETF is better, XLG or QQA?

On 1-year performance, QQA leads with 28.19% vs 19.95% for XLG. On fees, XLG is cheaper at 0.20% per year. On volatility, XLG has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLG or QQA?

Over the 1-year period, QQA has performed better with a 28.19% return vs 19.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLG or QQA?

XLG is cheaper with a 0.20% expense ratio, compared with 0.29% for QQA.

Which ETF pays a higher dividend yield, XLG or QQA?

QQA has the higher dividend yield at 9.70%, compared with 0.66% for XLG.

What is the main difference between XLG and QQA?

XLG is categorized as S&P 500, while QQA is Derivative Income. Their fees differ too: 0.20% for XLG and 0.29% for QQA.

Which has better risk-adjusted returns?

QQA currently has the higher Sharpe Ratio (2.03 vs 1.44), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.